Rings

September 30, 2011

Weak Fingers

Suskind's book on policy disputes within the Obama administration has garnered mixed, but overall positive reviews. Economics of Contempt suggests the book has been given something of a pass, perhaps by reviewers who do not understand the topic. The excerpts noted by EC are more than disturbing -- if they are not misquotations then Susskind (and his editor) have feeble grasp of the basic economics. Suskind conflates equity holders with secured creditors. They rather different categories, with very different risks. The quotes may (or may not) be selective, but the effect is still devastating. The book is a mistake.

The Economics of Contempt blog is good. I have forgotten how I came to it, but dorecommend it.